...

Snam reveals investment plans by 2024

Oil&Gas Materials 29 November 2021 17:34 (UTC +04:00)
Snam reveals investment plans by 2024

BAKU, Azerbaijan, Nov.29

By Leman Zeynalova – Trend:

Snam expects investments of 8.1 billion euros over the plan period, with an overall increase of approximately 700 million compared to the 7.4 billion euros of the 2020-2024 plan, Trend reports with reference to the company.

The plan provides for the maintenance, modernization and development of its infrastructure, investments for net zero and the acceleration of the energy transition. floor).

The regulated activities are substantially consistent with the previous plan even if with a different mix. Investments in energy networks in Italy amount to 5.6 billion euros (5.8 billion in the previous plan). The program of replacements for the modernization of the network continues, also with a view to "H2 ready", with over 1,300 km. Investments are also planned to achieve the net zero goal, including the start of the conversion of the first three compression stations to dual fuel, the start of the construction of the virtual pipeline for Sardinia and the first sections of the network, in addition to usual maintenance interventions. The investment plan also includes new connections linked to the energy transition.

Investments in energy storage amounted to 1.2 billion euros, a significant increase compared to 900 million in the previous plan, thanks to the conversion of three compressor stations to dual fuel (in line with the emission reduction targets), construction and modernization of wells for gas storage, replacement and adaptation of some components and maintenance activities. These investments will make it possible to manage the growing need for flexibility resulting from the volatility of energy markets, which will increase with the continuous development of renewables. They also enable the prospect of being able to store hydrogen.

---

Follow the author on Twitter: @Lyaman_Zeyn

Tags:
Latest

Latest